General Terms and Conditions

Please read it carefully and should you have any comment, please do not hesitate to contact us for clarification.

Agreed parties


Inventure Automotive Electronics R&D, Inc.


All business associations with legal personality or business associations without legal personality which order and  purchase any product from Vendor. By ordering, Customer declares that all the data (company details, invoicing and  shipping address, etc.) provided to Vendor shall be legal and proper. Vendor shall not be entitled to verify the  conformance of any such data. Any damage, or disadvantage originated from inproper data shall be exclusively covered  by Customer.


1. Scope

This General conditions is effective for the contract between Customer and Vendor to the products Vendor sells and  valid until withdrawal. The up-to-date General conditions can always be found on Vendor’s legal website (www.inventure Customer declares the acquaintance of and accepts the content of General condition by issuing  Purchase order, or signing off Delivery Note, or signing off -the first- Invoice, or paying the -first- Invoice, or by first  receipt of the product.


2. General

Usage of Vendor’s equipment is permitted for industrial purposes only. It must not be used in situations in which human  lives depend upon the operation of this equipment. The installation of the devices may eventually be in conflict with a  country’s regulations or the vehicle manufacturers (OEM) instructions. Neither by order confirmation and nor during  contractual period Vendor shall not be entitled to verify the conformance of (check the compliance of the product with)  such regulations and instructions. The conformance shall solely be the Customer’s responsibility. In certain cases device  installation may have an effect on vehicle warranty, in some cases it can lead to loosing the right to warranty at all. For  any warranty related issues Customer shall contact vehicle local representative. Vendor takes no responsibility for any  damages originated in device installation, such as: vehicle warranty; damages by vehicle manufacturer (OEM) or vehicle  owner or related party. In case of the abovementioned non-conformance of the product Customer shall not have right to  reverse sales contract.


3. Order

Orders shall be made only in written form by mail, fax, e-mail or personally at Vendor site. Orders shall be made and  signed by duly authorized Customer representative. Vendor shall have no responsibility for verification of Customers  such identification and authority. Customer can put no claim to Vendor on authority related issues. Orders shall be effective only in case it is confirmed in writing by Vendor.


4. Payment conditions

Cost of Purchased products shall be paid by cash, or by bank transfer in advance on Proforma invoice. The invoices  paid by wire transfer might be subject to a fee dependent upon the originating- and foreign banks. Customer shall ensure  that the transfer amount covers all applicable bank fees (including both bank charges and foreign charges). Other terms  of payment may be subject to reliable business relationship and depending upon customized agreement. Ownership  shall pass to Customer after full payment of the product.

In case of late payment may exceed 60 days, Vendor shall have the right to terminate the contract, to claim the product  back and to claim for compensation on all expenses arisen. In case of contract cancellation by Customer, Vendor shall  be indemnified up to 20% of the total contractual amount, as compensation.


5. Acceptance of the products

Products can be taken over at Vendor’s seat (delivery term: EXW). Other delivery term shall be subject further  agreement.


6. Guarantee:

Products shall be covered of warranty period regulated by governing law (Hungarian Civil Code and edict 117/1991.  (IX.10.)). Vendor takes 12 months guarantee period for product malfunction originated in product part or production  defects.

Customer acquires rights for the warranty and guarantee after product acceptance, however, shall solely practice this  right after full payment of product price. Unless bonded by guarantee, product repair cost may be paid in advance  subjected to Vendor’s decision. Vendor shall have right to withhold product until Customer pay full product price and/or  repair cost. For retention of the right, Customer shall express warranty claim within 5 working days after defect detection.  Warranty claim shall be declared in written form, with clear description of the defect and circumstances.

Besides warranty commitment/bond, in case of defected product performance Vendor shall have limited responsibility  on compensation. In such cases compensation shall not exceed the price of the product.

For repaired product the guarantee period recommences.

Customer shall have right for guarantee in case of proper use and keeping installation and operational instructions of  the product. Product must be installed by professional and this fact should be recorded legally. Guarantee validation  shall be effective at Vendor seat. All the cost of product transport must be secured by the Customer.

Shall be a dispute on warranty, Parties shall resolve calling an independent organization for investigation. Parties accept  mutually the opinion of such organization. Customer shall not be entitled to warranty right on the following cases: - defects originated in improper storage

- non-reproducable (intermittent) defects

- vehicle or vehicle part defect (e.g. defects on improper setup, etc. )

- defects on operation originated in negligence of related standards and vehicle manufacturers instructions - defect on improper use or negligence of Vendor User’s manual

- defects originated in accident, tamper or other impacts


7. Governing law, jurisdiction and language

The Parties shall promptly attempt to reach an amicable settlement of any dispute, disagreement or difference of any  kind that arises between them as to the interpretation, performance or breach of the Contract. If any such dispute,  disagreement or difference is not settled by the Parties the dispute shall be referred to the Metropolitan Court of  Budapest, Hungary.


Effective date: 12th December, 2022

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